Dec, 31, 2021 — EDUCATION 1ST CREDIT UNION is a federally insured state chartered credit union headquartered in OGDEN, UT with 1 branch location and about $43.08 million in total assets. Opened 90 years ago in 1932, EDUCATION 1ST CREDIT UNION has about 2,621 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | EDUCATION 1ST CREDIT UNION |
|---|---|
| Address: (Main Office) | 1250 Country Hills Dr OGDEN, UT 84403-2560 |
| Phone: | (801) 392-4877 |
| Fax: | (801) 392-4879 |
| Website: | http://e1cu.org |
| Branches: | 1 branch locations |
| Members: | 2,621 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67127 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1932 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $43,083,006 |
| CEO/Manager: | Kent M Greenfield |
| Chairperson: | Bruce Christensen |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,956,578 |
| TOTAL INVESTMENTS | 3,795,832 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 13,112,192 |
| Unsecured Loans | 1,974,476 |
| Other Loans | 11,912,081 |
| TOTAL LOANS | 30,180,297 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -193,024 |
| Land And Building | 239,648 |
| Other Fixed Assets | 193,369 |
| NCUSIF Deposit | 337,118 |
| All Other Assets | 1,573,188 |
| TOTAL ASSETS | 43,083,006 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 119,341 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 11,292,761 |
| Regular shares | 16,820,599 |
| All Other Shares & Deposits | 10,598,026 |
| TOTAL SHARES & DEPOSITS | 38,711,386 |
| TOTAL LIABILITIES | 38,830,727 |
| Regular Reserve | 1,820,020 |
| Other Reserves | 0 |
| Undivided Earnings | 2,432,259 |
| TOTAL EQUITY | 4,252,279 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 43,083,006 |
| INCOME & EXPENSE | |
| Loan Income | 1,332,441 |
| Investment Income | 39,379 |
| Other Income | 275,797 |
| Total Employee Compensation & Benefits | 759,069 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 581,834 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,500 |
| Cost of Funds | 161,609 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 367,273 |
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